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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Planning Commission, India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
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